The Coinbase crypto exchange announced the addition of ATOM stacking, a proprietary Cosmos block token.
This is the second token available for stacking on Coinbase. Previously, the exchange allowed earning rewards for assets in tokens Tezos (XTZ). According to the company, users in the selected jurisdictions, which include the United States, United Kingdom, France, Spain, Belgium and the Netherlands, can start earning 5% per year in ATOM token.
The exchange charges 25% commission for its services in providing ATOM and XTZ stacking. According to Coinbase representative, this commission is already reflected in the declared profitability for users.
Despite the high fees, Coinbase is currently the largest stacker in the Tezos system and has distributed over $2 million in awards to customers since the launch of the service in November 2019.
ATOM Stacker Awards will be credited every seven days. For XTZ, the enrollment period is three days. In the future, Coinbase intends to continue expanding the list of assets available for stacking.
Against the backdrop of the latest Coinbase announcement, ATOM's exchange rate has risen by 10% to $5.45, showing the largest growth among the leading cryptographic assets.